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Tuesday, 20 October 09
INDIA MAY CUT STAKE IN NTPC BY DECEMBER, POWER SECRETARY SAYS
 Bloomberg reported that, India’s government may sell a 5 percent stake in NTPC Ltd., the country’s biggest power producer, as early as December to help fund spending on roads and education and rein in the fiscal deficit.
“We will do it by December or January,” Power Secretary H.S. Brahma said by telephone in New Delhi yesterday, after the Cabinet approved the plan to sell the stake in the state-owned utility. “We will take a decision on the timing of the sale in a few days.” Brahma is the top bureaucrat in the power ministry.
Prime Minister Manmohan Singh is taking advantage of an 80 percent gain in India’s benchmark stock index this year to sell stakes in state-owned companies. The government has raised about 42 billion rupees ($913 million) since April 1 by selling shares in NHPC Ltd. and Oil India Ltd. The NTPC sale may yield 88 billion rupees, according to Bloomberg calculations based on its Oct. 17 closing price that valued the New Delhi-based utility at $38 billion.
“This should help a little in narrowing India’s fiscal deficit,” Viswanathan Vasudevan, a Singapore-based fund manager at Aquarius Investment Advisors Pte., said by telephone today. “The government needs to continue with its theme of disinvestment since the deficit is quite large.”
India plans to borrow a record 4.41 trillion rupees in the year ending March 31, widening the budget deficit to a 16-year high of 6.8 percent of gross domestic product, from 6 percent in the previous year.
NTPC has climbed 18 percent in Mumbai trading this year, lagging behind the Bombay Stock Exchange’s Sensitive Index and a 90 percent surge in rival Tata Power Co. The stock fell 0.6 percent to 213.60 rupees on Oct. 17 when the market traded in a special truncated session on Diwali, the festival of lights that marks the start of the Hindu new year.
Government Equity
The government’s equity in NTPC will fall to 84.5 percent after the sale from 89.5 percent. Part of the shares will be offered to NTPC employees, Commerce and Industry Minister Anand Sharma said yesterday, without elaborating on the timing.
“It is expected that the market capitalization of NTPC would be higher and it would help the company to raise resources in the international market on competitive terms,” the government said in a statement after a meeting of the federal cabinet in New Delhi yesterday.
NTPC plans to spend 177 billion rupees to increase its generation capacity by about 10 percent in the financial year ending March 31. The utility said last month it was evaluating an offer to buy a South African coal mine and is considering a coal- mine purchase in Indonesia to help secure fuel supplies.
The government sold a 5 percent holding in NHPC to the public for 20 billion rupees in August, while state-run refiners bought 10 percent in Oil India from the state for about 22 billion rupees the following month.
India should aim to raise as much as 250 billion rupees a year from asset sales, the finance ministry said in a July 2 report. Proceeds from the sale of the government’s stake in state-owned companies go to a separate fund meant for social- sector spending, including job creation and improving health care and education.
Source:Bloomberg
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Monday, 19 April 10
PLN TO OPERATE COAL MINES IN BID TO FUEL POWER PLANTS
The Jakarta Globe reported that, state electricity utility PT Perusahaan Listrik Negara said on Sunday that it aimed to take over operation of small ...
Sunday, 18 April 10
GOVT FORMS PANEL FOR RS 12,000-CR (US$ 2.711 BILLION) COAL INDIA IPO - ECONOMIC TIMES
Economic Times reported that, the government has formed an inter-ministerial panel to carry forward the proposed Rs 12,000-crore (US$ 2.711 billion) ...
Sunday, 18 April 10
THE FUTURES FOR THREE YEARS (2010-2012) FOR PANAMAX WAS AT AROUND US$ 21500 PER DAY - VISTAAR
COALspot.com: The BDI indices up by 3.30 pct and overall market continued to be firm except for India to Fareast.
“The cape index for the f ...
Saturday, 17 April 10
DRY BULK SHIPPING MARKET ANALYSIS - BIMCO
Strong Chinese steel market is set to cushion the flood of new Capesize vessels entering the dry bulk fleet Demand: The first quarter of 2010 saw up ...
Saturday, 17 April 10
DRY BULK MARKET EDGES HIGHER ON STRONGER DEMAND
The dry bulk market managed to inch higher by the end of the week as brokers indicated that stronger cargo demand pushed freight rates that much hig ...
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- Kartika Selabumi Mining - Indonesia
- Coalindo Energy - Indonesia
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- SN Aboitiz Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Anglo American - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Baramulti Group, Indonesia
- GAC Shipping (India) Pvt Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement PLC, Thailand
- Barasentosa Lestari - Indonesia
- Mercuria Energy - Indonesia
- Mintek Dendrill Indonesia
- European Bulk Services B.V. - Netherlands
- VISA Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Australia Pty. Ltd.
- Sarangani Energy Corporation, Philippines
- Riau Bara Harum - Indonesia
- Eastern Coal Council - USA
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- Star Paper Mills Limited - India
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- Wood Mackenzie - Singapore
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- Kalimantan Lumbung Energi - Indonesia
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- Rio Tinto Coal - Australia
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- Minerals Council of Australia
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- Indika Energy - Indonesia
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- Salva Resources Pvt Ltd - India
- Electricity Authority, New Zealand
- Indian Energy Exchange, India
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- Sinarmas Energy and Mining - Indonesia
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- Independent Power Producers Association of India
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- Holcim Trading Pte Ltd - Singapore
- Gujarat Sidhee Cement - India
- Parliament of New Zealand
- New Zealand Coal & Carbon
- MS Steel International - UAE
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- Australian Commodity Traders Exchange
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- TNB Fuel Sdn Bhd - Malaysia
- Kideco Jaya Agung - Indonesia
- Intertek Mineral Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Standard Chartered Bank - UAE
- Coal and Oil Company - UAE
- Meenaskhi Energy Private Limited - India
- Bangladesh Power Developement Board
- TeaM Sual Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Formosa Plastics Group - Taiwan
- CNBM International Corporation - China
- Goldman Sachs - Singapore
- Energy Development Corp, Philippines
- Vedanta Resources Plc - India
- The University of Queensland
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- Ministry of Transport, Egypt
- Jorong Barutama Greston.PT - Indonesia
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- Latin American Coal - Colombia
- Singapore Mercantile Exchange
- Kapuas Tunggal Persada - Indonesia
- Ministry of Mines - Canada
- Kobexindo Tractors - Indoneisa
- Maheswari Brothers Coal Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Bukit Baiduri Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Georgia Ports Authority, United States
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- Indian Oil Corporation Limited
- ASAPP Information Group - India
- GMR Energy Limited - India
- Indogreen Group - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Interocean Group of Companies - India
- CIMB Investment Bank - Malaysia
- Posco Energy - South Korea
- Port Waratah Coal Services - Australia
- Chamber of Mines of South Africa
- Deloitte Consulting - India
- PNOC Exploration Corporation - Philippines
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- Dalmia Cement Bharat India
- Sindya Power Generating Company Private Ltd
- Eastern Energy - Thailand
- Electricity Generating Authority of Thailand
- Binh Thuan Hamico - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- Orica Mining Services - Indonesia
- Essar Steel Hazira Ltd - India
- Africa Commodities Group - South Africa
- Mercator Lines Limited - India
- Central Java Power - Indonesia
- Indonesian Coal Mining Association
- Thiess Contractors Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Banpu Public Company Limited - Thailand
- Indo Tambangraya Megah - Indonesia
- Karbindo Abesyapradhi - Indoneisa
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- Metalloyd Limited - United Kingdom
- Mjunction Services Limited - India
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- Kumho Petrochemical, South Korea
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- India Bulls Power Limited - India
- Global Business Power Corporation, Philippines
- The Treasury - Australian Government
- The State Trading Corporation of India Ltd
- Bulk Trading Sa - Switzerland
- Siam City Cement - Thailand
- Madhucon Powers Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Borneo Indobara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
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- IEA Clean Coal Centre - UK
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- White Energy Company Limited
- Larsen & Toubro Limited - India
- Petron Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Xindia Steels Limited - India
- Ministry of Finance - Indonesia
- Central Electricity Authority - India
- Power Finance Corporation Ltd., India
- Timah Investasi Mineral - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
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- Cigading International Bulk Terminal - Indonesia
- PTC India Limited - India
- Savvy Resources Ltd - HongKong
- Kohat Cement Company Ltd. - Pakistan
- Straits Asia Resources Limited - Singapore
- PowerSource Philippines DevCo
- Price Waterhouse Coopers - Russia
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- Medco Energi Mining Internasional
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- Global Green Power PLC Corporation, Philippines
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- Australian Coal Association
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- Jaiprakash Power Ventures ltd
- Tamil Nadu electricity Board
- Aditya Birla Group - India
- Ceylon Electricity Board - Sri Lanka
- Miang Besar Coal Terminal - Indonesia
- Trasteel International SA, Italy
- Maharashtra Electricity Regulatory Commission - India
- London Commodity Brokers - England
- ICICI Bank Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karaikal Port Pvt Ltd - India
- Sical Logistics Limited - India
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- Toyota Tsusho Corporation, Japan
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